NYSE Sneakily Updates Trader Speed Fees Overnight
Published Date: 2/11/2026
Notice
Summary
NYSE National is updating its fee rules for certain tech connections that help traders send orders faster. This change tweaks how fees apply to virtual routing and control circuits, especially between data centers and trading floors. The new fees take effect right away, so anyone using these services should check the updated schedule to avoid surprises.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Two Resilient VCCs Charged As One
If you are a market participant that orders two virtual control circuits (VCCs) between the Mahwah, New Jersey data center (MDC) and the same Trading Floor over different Trading Floor networks (a “Resilient TF VCC”), the Exchange will charge you as if those two VCCs were one TF VCC so long as only one VCC is able to be active at a given time. The Exchange filed this change on January 28, 2026 and says the change applies equally to all Users; currently, no User has a Resilient TF VCC so no User would immediately benefit.
Fee Change Effective Immediately; 60-Day Review
The Exchange designated this proposed Fee Schedule change effective upon filing on January 28, 2026, so the amended note is in effect immediately. The Securities and Exchange Commission may summarily suspend the change within 60 days of filing, and written comments on the filing were invited with a submission deadline of March 4, 2026.
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